Crude market reacts to Bukom blaze, shows unusual volatility in price spread

This as the fire caused Shell to cancel the lifting of 4 million barrels of crude.

A Reuters report said, “The closure of Shell's 500,000 barrel-per-day refinery, its largest in the world, has led the oil major to cancel the lifting of 4 million barrels of crude, to wind down its petrochemical complex and to declare force majeure on some of its deals, mostly involving distillates.”

The impact of the fire, according to the report, has extended into the crude and naphtha markets, strengthening price spreads for both markets.

“The fire last week severely damaged the equipment that controls the outflow of most of the refinery's clean oil products, including gasoline, naphtha and middle distillates, from processing units to storage tanks,” said the report.

View the report here.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia